The new superannuation legislation’s introduction of entirely new concepts and procedures, combined with the very short time allowed for consideration for how they will work in practice, will result in a compliance logjam next year, according to the SMSF Owners’ Alliance (SMSFOA).

Trustees and advisers have been advised not to rely on forfeiture provisions contained in SMSF trust deeds supposedly stipulating how a member’s benefits can be treated when they are declared bankrupt, a legal expert has said.

The ATO will be softening its approach to SMSFs with a contravention report submitted about some of their activities that have been assessed as high risk in the coming financial year.

The federal government has released two out of three tranches of exposure draft legislation for superannuation reforms that were announced in the 2016 federal budget. In a joint statement, Treasurer Scott Morrison and Revenue and Financial Services Minister Kelly O’Dwyer said the reforms would make the super system fairer, more flexible and more sustainable, and […]

Global investment manager Spire Capital is set to add to its suite of Real Estate Opportunity Capital (ROC) funds in late October, providing investors with access to the United States aged-care property sector. The offering, the Spire USA ROC Seniors Housing Fund, will be run in conjunction with its partner, Bridge Investment Group Partners, and […]

The County Court of Victoria has convicted and sentenced Barry Patrick to six years and three months imprisonment after he pleaded guilty to six charges following an investigation by ASIC. Patrick, 73, from Sunbury, Victoria, pleaded guilty to three charges of obtaining property by deception, two charges of obtaining a financial advantage by deception, and […]

Investment management firm Rushton Financial Services has unveiled a new fund that seeks to address the need for alternative opportunities due to elevated risk levels in the Australian share market.

The federal government has changed the proposed super legislation, replacing the $500,000 lifetime non-concessional contributions cap with a yearly limit of $100,000. Addressing a press conference on 15 September, Treasurer Scott Morrison said: “The measures are as follows to replace the lifetime non-concessional cap with an annual cap of $100,000 with a three-year bring-forward limited […]